CHANGES ON CME ETHANOL FUTURES CONTRACT TO IMPROVE CONVERSION WITH SPOT MARKET

摘要

The CME Group will shorten the required load-out time for deliveries for its Chicago Board of Trade (CBOT) ethanol futures contract to 10 days from 17, effective April 1, 2010, so buyers can receive physical supplies within the month of delivery. The changes also lower the maximum denaturant content of deliverable grade ethanol and require more detailed Certificates of Analysis for ethanol deliveries to more closely match the Renewable Fuels Association (RFA) guidelines used by many traders. CME will also require the transfer of Renewable Identification Numbers (RUST) needed for compliance with the Renewable Fuels Standard, in the current year and through February of the following year. Ethanol futures currently allow delivery of previous year RINs through the end of June.